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An astounding amount of meme coins has been transferred within less than an hour as the SHIB price plummeted

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Data shared by the Etherscan tracker shows that within the past hour, anonymous whales have transferred nearly 18 billion Shiba Inu meme coins. Part of them was sent to Binance to be sold.

As the SHIB price has suddenly gone dip into the red, some whales, it seems, started selling their meme coins stashes, while others began to buy more of them on the dip.

Six transactions all-in-all have been spotted, four of them sent slightly more than 8 billion SHIB to Binance in stashes which carried 1.8 billion, 1.5 billion, 18.6 million and 4.6 billion Shiba Inu meme coins.

9,905,500,287 SHIB were bought on the OKX exchange and then withdrawn to an anonymous wallet address. After that, this massive lump of SHIB was moved to another wallet, which now holds 2,604,291,682,773 Shiba Inu meme coins.

Earlier today, several smaller SHIB chunks were sent to this wallet, including three transactions of 7.8 billion SHIB each.

On June 22, the Shiba Inu canine crypto suddenly faced a staggering sell-off conducted mostly on the Binance exchange. As reported by U.Today, 337 billion SHIB were dumped on the largest crypto exchange.

Adding the volume of SHIB sold on other exchanges as well, the overall stash of SHIB dropped by holders topped 800 billion coins. However, around half of that amount was then bought by stronger hands.

This pushed the price of the asset 7.35% down, and it has begun to gradually rise, step by step. At the time of this writing, Shiba Inu is changing hands at $0.00000780 on Binance.

Originally posted here:

17.8 Billion SHIB Transferred to Binance and Other Wallets Just Now - U.Today